Origin Bancorp (TXSE:OBK) Insider Acquires $107,160.00 in Stock

Key Points

• Origin Bancorp insider Jim Crotwell bought 2,000 shares for $107,160 at an average price of $53.58, increasing his stake by 8.17% to 26,475 shares.
• The company reported quarterly earnings of $1.22 per share on $113.22 million in revenue and announced a $0.28 quarterly dividend, equivalent to a 2.1% yield.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $58; shares recently traded at $54.34.

Origin Bancorp, Inc. (TXSE:OBK - Get Free Report) insider Jim Crotwell acquired 2,000 shares of the firm's stock in a transaction dated Friday, November 6th. The stock was purchased at an average cost of $53.58 per share, with a total value of $107,160.00. Following the completion of the acquisition, the insider directly owned 26,475 shares of the company's stock, valued at approximately $1,418,530.50. This trade represents a 8.17% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Origin Bancorp Stock Performance

Shares of OBK traded up $0.56 during mid-day trading on Tuesday, reaching $54.34. 66,288 shares of the company's stock were exchanged, compared to its average volume of 180,463. The business's fifty day simple moving average is $53.01 and its 200-day simple moving average is $48.63. The stock has a market capitalization of $1.68 billion, a PE ratio of 16.98 and a beta of 0.74. Origin Bancorp, Inc. has a 52-week low of $32.28 and a 52-week high of $58.00. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.98 and a quick ratio of 0.98.

Origin Bancorp (TXSE:OBK - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The company reported $1.22 EPS for the quarter. The firm had revenue of $113.22 million during the quarter. Origin Bancorp had a net margin of 16.26% and a return on equity of 7.97%. On average, equities research analysts expect that Origin Bancorp, Inc. will post 4.11 earnings per share for the current year.

Origin Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 13th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, November 13th. Origin Bancorp's dividend payout ratio is presently 26.99%.

Analysts Set New Price Targets

OBK has been the topic of several recent research reports. Weiss Ratings upgraded Origin Bancorp from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday, October 8th. Keefe, Bruyette & Woods lifted their target price on Origin Bancorp from $57.00 to $60.00 and gave the company an "outperform" rating in a research note on Tuesday, August 4th. Benchmark raised Origin Bancorp to a "hold" rating in a report on Thursday, September 24th. Raymond James Financial upped their price target on Origin Bancorp from $56.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday, October 2nd. Finally, DA Davidson increased their price target on Origin Bancorp from $53.00 to $62.00 and gave the stock a "buy" rating in a report on Friday, July 24th. Five investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Origin Bancorp has an average rating of "Moderate Buy" and an average target price of $58.00.

Institutional Investors Weigh In On Origin Bancorp

A number of hedge funds have recently added to or reduced their stakes in the company. Nykredit A S purchased a new position in shares of Origin Bancorp during the 2nd quarter worth approximately $25,000. Allworth Financial LP purchased a new position in Origin Bancorp in the second quarter worth $30,000. Integrated Wealth Concepts LLC purchased a new position in Origin Bancorp in the second quarter worth $47,000. USA Financial Formulas acquired a new stake in Origin Bancorp in the third quarter valued at $49,000. Finally, Heritage Family Offices LLP acquired a new stake in Origin Bancorp in the third quarter valued at $75,000. Institutional investors and hedge funds own 54.68% of the company's stock.

Origin Bancorp Company Profile

Origin Bancorp, Inc. is a regional bank holding company headquartered in Ruston, Louisiana. Through its primary subsidiary, Origin Bank, the company provides banking and financial services to businesses, individuals and communities. Origin Bank offers commercial and small-business lending, consumer loans, residential mortgage lending, deposit accounts, treasury management, cash-management services and wealth-related solutions. Its commercial banking activities include financing for operating needs, real estate and other business purposes, while its consumer offerings include personal deposits and lending products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.